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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Matco Tools Loan | ||||
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Raising Money in Trussville, Alabama With SBA Loans
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Trussville, AL Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools FranchiseBorrowing money to buy a Matco Tools rent Tools franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Trussville, Alabama needed money to invest in a Matco Tools rent Tools franchise back in 2002. Bank Of The West issued an SBA franchise loan. Here are the details on this Alabama small business loan. SBA Loan Borrower MATCO TOOLS SBA Loan Lender BANK OF THE WEST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5963 - Direct Selling Establishments NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 5/3/2002 Loan Approval Gross Amount $113,400 Loan Approval from the SBA Of the total $113,400 loan amount, the SBA guaranteed $96,390. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Banks in San Francisco, California
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